New study on Algae Protein Market 2021 industry trends & forecast just published

Algae proteins are the protein extracts derived from algae by harvesting, extracting, drying and purifying seawater algae. They cater to various needs in food & beverages, animal husbandry and health & personal care. Algae proteins are graining prominence as alternative plant protein owing to its balanced proportions of all the amino acids. These are now competing with other plant-based protein such as soy, pea-protein, wheat and canola. The main drivers of this market are the positive effects on the immune system and its attributes for improving the nutrient content of the food.. Driven by the increasing availability of the functional and nutritional foods, the global algae protein market is estimated to cross $XXm, growing at a CAGR of XX% during 2016-2021.

The global algae protein market has been analyzed with respect to different parameters such as demand/supply & end-users. The market is categorized by type and its application. On the basis of type, the market is segmented into Spirulina and Chlorella. On the basis of applications it is segmented into its major uses in dietary supplements, animal feed and food items such as bakery & confectionary, dairy products, meat substitute and packaged goods.

Algae Protein Market

The overall market is also presented from the perspective of different geographic regions and the key countries in each region. Europe was the dominant market in 2015 due to high research into the growth and cheaper methods of preparation of the protein from the algae. In the APAC region, India and China have been dominating the market owing to increasing consumer awareness regarding and health benefits of protein. Ethical and traditional beliefs of consumers for not using animal based products also opens opportunity for growth of algae protein market in APAC region.

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